Biannual information on euro banknote counterfeiting

10 January 2008

In the second half of 2007 a total of 296,000 counterfeit euro banknotes were withdrawn from circulation. Although this is a slight increase compared with the same period in 2006, it is still within the bounds of the pattern established over the last few years, as indicated in the following table showing the half-yearly levels of counterfeits recovered:

Period

2003/2

2004/1

2004/2

2005/1

2005/2

2006/1

2006/2

2007/1

2007/2

Number of counterfeits

312,000

307,000

287,000

293,000

286,000

300,000

265,000

265,000

296,000

When these figures are compared with the number of genuine euro banknotes in circulation (on average 11.4 billion during the second half of 2007), the quantity of counterfeits is very small indeed.

The overwhelming majority (96%) of counterfeits recovered in the second half of 2007 were found in euro area countries, although this proportion is slightly smaller than in previous periods. Approximately 3.5% were found in EU Member States outside the euro area and the remainder in other parts of the world.

The breakdown of these counterfeits by denomination is as follows:

€5

€10

€20

€50

€100

€200

€500

Breakdown by denomination (in %)

0.5

2.5

27.5

38

22

9

0.5

The €50 was the most counterfeited banknote in the second half of 2007. The three mid-range denominations (€20, €50 and €100) between them accounted for about 88% of all counterfeits.

The public can have confidence in the quality of euro banknotes and their security features. At the same time, the Eurosystem, i.e. the European Central Bank (ECB) and the 15 national central banks of the euro area, continues to advise the public to be alert and to check the authenticity of the banknotes that they receive. Counterfeits can be easily distinguished from genuine banknotes by using the simple FEEL-LOOK-TILT test described in the Eurosystem’s publications and on the ECB’s website and the websites of the Eurosystem national central banks. But in cases of doubt, a suspect banknote should be compared directly with one that is known to be genuine. Anyone who suspects they may have received a counterfeit should contact either the police or – where national practice allows – the respective national central bank, giving as many details as possible about the banknote’s origin.